Carolyn Smith, Realtor – Real Estate Update: Brevard County, FL Real Estate Market
Brevard County, Florida Real Estate Market Update
Once again, more positive news for the Brevard County, FL real estate market… Home sales are up! And not only are home sales up, home prices are up as well! All great news showing a healthy and strong real estate market in Brevard County, Florida!
Recent data shows that 642 single family homes sold in March 2012; that is up from the 480 single family homes that sold in February 2012. That’s a 34 percent increase in one month! The median sales price for a single family home in March 2012 was $110,000… that is over $13,000 higher than the median sales price one year ago which was $96,915 in March 2011.
The condo and townhouse market is looking similarly strong, with 195 condos and townhouses sold in March 2012, compared to 156 sold in February 2012. On top of that great increase in number of sales, the median sales price is up almost $17,000 compared to one year ago; $105,125 for March 2012 and $88,465 for March 2011.
Furthermore, pending home sales in Brevard County, Florida are up by more than 25 percent compared to the same time period last year. In the same time period, the inventory of homes for sale in Brevard County, Florida has dropped by 54 percent. Additionally, the number of days a single family home is on the market recently fell to below 100 days, which is a milestone Brevard County, Florida has not seen since around the year 2005. This is according to Tim Harber, president of Space Coast Realtors, who follows that up by saying that the number was in the 160 day timeframe not too long ago.
Now, you might be saying to yourself, “Thanks for all of this great information Carolyn, but what exactly does it mean?”. Well, it means that with the current limited inventory in our area, prices are going up as buyers are competing for the “quality” homes when they come on the market, and when “quality” homes come on the market, they don’t last long! Buyers must be patient because it might take a little while to find the right home, but when buyers find a home they like, they have to move quickly or they will miss out! So buyers, be ready to put in a good offer when you finally find your dream home, because if you don’t, someone else will! The other big answer to “What does this information mean?” is that Brevard County, Florida needs home sellers! If you are considering selling a home in Brevard County, Florida, now is the time! Homes are selling quickly, and prices are increasing, so if you are thinking about it, now is a great time to list your home.
If you are considering purchasing a home, condo, or townhouse in Brevard County, Florida and specifically Melbourne Beach, Indialantic, Indian Harbour Beach, Satellite Beach, Viera, or Suntree, give me a call or send me an email and we can discuss your options. If you are considering selling your Brevard County, Florida home, I will be happy to provide you with a free market analysis and discuss pricing strategies with you.
The Brevard County, Florida real estate market is strong, healthy, and stable. Interest rates are still at or near record levels, home prices are reasonable, and Brevard County, Florida is a fantastic place to live! Give me a call at 321.271.0870 and we can discuss your real estate needs!
Source of info: Florida Today, MAAR
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